Legal13 Oct 2026, 07:10 pm
NCLT Rejects Insolvency Application Against Globalbees Brands
AI Summary
Brainbees Solutions Ltd has announced that the National Company Law Tribunal (NCLT), New Delhi Bench, has rejected an insolvency application filed by Ashutosh Garg, Paritosh Garg, and Manju Agarwal against Globalbees Brands Private Limited, a material subsidiary. The application, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, sought a claim of INR 64,92,38,997/- with 18% annual interest. The NCLT pronounced its order on October 09, 2026, and uploaded it on October 13, 2026, dismissing the matter. This ruling is a significant positive development for Globalbees and its parent company, Brainbees Solutions.
Key Highlights
- NCLT dismissed insolvency application against subsidiary Globalbees Brands.
- Claim amount was INR 64.92 Cr with 18% interest.
- Rejection of application is a positive development for the company.
- No financial impact on Brainbees Solutions from the dismissed application.
Price Impact
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